AU Copper Beech estate has highest price tag for a US home
Property Here - Wednesday, May 22, 2013
The 12-bedroom Connecticut home has an asking price of $190 million. Picture: Christies International. Source:Supplied
AT $190 million it has enough zeros to make you dizzy and a price tag that crushes any asking price for a home in US history.
The jaw-dropping amount for the mammoth mansion in Greenwich, New England, sounds more like California than Connecticut, and it's well above the $150 million Candy Spelling slapped on "The Manor" in Los Angeles a couple of years ago.
Single-family home is an extreme understatement for Copper Beech Farm estate, as it consists of so much more than just the house itself - a 1250 square metre French-renaissance mansion with 12 bedrooms, seven full baths, two half baths, library, solarium, wine cellar and an entire floor for staff.
The property straddles 20 prized hectares, spread over two islands, and the outdoor features include a 22 metre pool with spa and pool house, grass tennis court, stone carriage house and guest cottage, plus abundant rolling lawns and gardens.
The asking price is part guesswork, since listing agent David Ogilvy of David Ogilvy and Associates and Christie's International based his $190 million price on comparisons for the area, none of which come close in property size or amenities.
"It’s one of these things where you cannot look and say 'It’s worth X', because there’s nothing like it," he told the Wall Street Journal.
He said the asking price was driven largely by the land, which is divided into two parcels that can be subdivided - a 13 hectare parcel that doesn’t include the Victorian-style mansion could be split into as many as 15 lots.
Since being built in 1896, Copper Beech Farm has only known two owners. Harriet Lauder Greenway (whose father George Lauder created US Steel - the nation's largest steel company) purchased the property in 1904 and lived there for 75 years. Current owner John Rudey, who made his fortune in timber, bought the home in an off-market deal.
The estate hasn’t been publicly listed for sale in more than a century, according to its marketing spiel.
It remains to be seen whether the nine-figure price tag will lead to a nine-figure sale but Greenwich has long been known for its uber wealthy Wall Street folk who have earned it a nickname as the hedge fund capital of US.
The listing tests the ultra-high-end US property market, which has seen several record-setting sales in recent years but a number of homes marketed with vanity price tags have wound up with multiple and very public price reductions.
Other US homes in Copper Beech's price league include Gianni Versace's former home, priced at $100 million, hedge fund honcho Steven Cohen's $115 million apartment and a Manhattan penthouse listed at $125 million, according to NBC News.
The most expensive house in the world as of this year is India's Antilia in Mumbai. It is home to Mukesh Ambani, the world's fifth richest man. This 27-story palace is said to have cost a staggering $1 billion.
Paling in comparison is the Australian property record set by a Perth riverside mansion which sold for $57.5 million in 2009. It was bought by mining magnate Chris Ellison.
Read more: http://www.news.com.au/realestate/selling/copper-beech-estate-has-highest-asking-price-for-a-us-home/story-fndbawks-1226648176178#ixzz2TzlJCh5Q